Taxman cracks down on builders
Construction firms coughed up £122m in extra tax to Her Majesty’s Revenue & Customs (HMRC) during the last year, according to accounting services group NoPalaver. The figure is a 55 per cent increase on the previous year, when only £78.9m was taken in extra tax. The charges are levied through the construction industry scheme, which sets up a framework for taxing contractors. NoPalaver director Graham Jenner called the large increase a crackdown on self-employed workers, adding: “This is a pity, since the flexibility provided by self-employed status is one of the ways both businesses and workers in the construction sector have remained competitive.”